OrbiMed-backed Prelude raises $60M to take PRMT5 program through clinical POC

With $60 million in new series B funding, Prelude hopes to obtain clinical proof-of-concept data for its lead PRMT5 inhibitor for solid tumors or blood cancers.

OrbiMed Advisors and one other undisclosed institutional investor backed Prelude Therapeutics Inc. (Wilmington, Del.) in the B round, and also participated in Prelude's $5 million seed round in July 2016 and $30 million series A round in October 2017...